Project Description
Founded in 2007 in Jiangsu province of China, Envision Energy (“Envision” or the “Company”) - is a leading global provider for smart energy technologies and services, including research, sales of smart turbines, and smart wind farm software and technological services. The company’s activities are focused on (i) wind turbine manufacturing (including installation and commissioning), (ii) wind farm software development and technological services for both solar and wind, and (iii) project development.
Envision currently has more than 900 employees globally. In China, in addition to an R&D and operations base in Shanghai, Envision has two adjacent assembly facilities in Jiangyin city with a combined production capacity of more than 2,500 wind turbine sets per year or 6GW/year. The recent completion of the second assembly line in Jiangyin and a new facility under development in Chengde (Huabei region, expected to be operational in July 2016) would support projected annual growth over the next 5 years and will have a total capacity of over 10 GW by 2017. In addition, Envision has a global innovation center in Silkeborg, Denmark, a battery-storage R&D center in Osaka, Japan; a cloud service center in Houston; and a new digital energy research center in Silicon Valley.
To support its growth plan, the company has expressed interest in long term IFC financing. The proceeds of the IFC investment shall be used for working capital financing such as advance payments to suppliers, direct payment to suppliers, cash collateral for performance and warranty bonds, as well as payments related to purchase of raw materials and inventory (the "project").